The headline purchasing managers’ index for Turkish manufacturing for September signalled a sustained improvement in business conditions, but also evidenced signs of rates of improvement in demand losing strength, survey compiler
The index posted 52.8 in September, down from August’s 54.3. Any figure above 50.0 denotes an expansion.
“That said, rates of expansion in new orders and output have levelled off and the threat of the pandemic remains. Firms will be hoping that trends remain positive over the final quarter of the year to keep the recovery going.”
Industrial production “accelerating”
“There was another sharp increase in the input and output prices balances to two-year highs, probably reflecting the further depreciation in the lira. The central bank is likely to tighten monetary conditions further, which will take some of the heat out of the recovery.”
“Stocks of purchases ticked down, however, amid reports of continuing caution around stockbuilding and the use of inputs to support output growth,” it added.
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